Cipla gains over 6% on smart Q2 earnings

Mumbai: Shares of drug major Cipla surged by over 6% in morning trade on the bourses on Tuesday after the company reported a 17.47% increase in net profit to Rs308.97 crore for the quarter ended 30 September.

In a similar fashion, the scrip gained 6.17% on the NSE to an early high of Rs305.90.

The company declared the results after market hours on Monday.

Cipla has reported a 17.47% increase in net profit to Rs308.97 crore for the quarter ended 30 September 2011, due to improved sales within the country and overseas.

The company had posted a net profit of Rs263.01 crore for the quarter ended 30 September 2010.

Meanwhile, the broader Sensex was trading in a highly volatile zone, with the key index quoting at 17,101.39, down 17.35 points at 10:20 am.